News / Article

An article published Dec. 21 by The Wall Street Journal (WSJ) has suggested investors should sell and then repurchase their Bitcoin (BTC) as a strategy to save on taxes.

In the context of the 2018 crypto bear market, the WSJ suggests that “the only good thing about investing in cryptocurrencies [this year] was the tax break.”

Given that the United States tax authority, the Internal Revenue Service (IRS), has treated crypto as investment property as of 2014 — akin to stocks and bonds, not currency — crypto users can allegedly benefit from the “special and often favorable” taxation policy the country gives to investments.